REAL Trends represented Paragon Real Estate Group in their transaction with Compass, a real estate technology company, announced last week. This large brokerage acquisition is a maiden voyage for both Paragon Real Estate Group and Compass and marks a big change in the landscape of residential real estate. With the addition of Paragon, Compass’ Bay Area team has grown to more than 500 agents representing more than $4.5 billion in sales volume last year. Compass is now the number one real estate company in San Francisco by sales volume and market share.
Paragon, founded in 2004 by Bob Dadurka, Anita Head, George McNabb and Sally Stull, has been a top four residential brokerage in the Bay Area, with eight offices in San Francisco, North Bay, and East Bay.
“As we began to look for ways to expand in San Francisco, the opportunity to pair Paragon and their agents’ expertise and close community ties across the entire Bay Area with the technology, marketing and support we provide to our agents at Compass, was an ideal one. I look forward to growing our agent-centric real estate company alongside Bob and the Paragon team,” said Ori Allon, Founder & Executive Chairman.
“Compass’ focus on arming their agents with world-class technology and support resonates with our commitment to continue providing outstanding service and advice to our clients,” said Bob Dadkura, CEO of Paragon. “Joining Compass’ impressive San Francisco team and national network of luxury brokers opens an array of new opportunities for our agents, and the chance to be a part of the future of the real estate industry in San Francisco and beyond.”
Compass broke into the San Francisco market with a splash in September 2016, snatching up two of the market’s top agents — Malin Giddings, a top agent formerly with Coldwell Banker, and the agent team TeedHaze, led by Butch Haze and Rick Teed, a top team formerly with Sotheby’s International Realty.
The company has continued its impressive growth in recent weeks with acquisitions and expansions in Chicago and smaller markets in Florida and Tahoe — moving closer toward its stated goal of achieving 20 percent of market share in the top 20 markets in the country by 2020.
In addition to San Francisco, Compass currently has a presence in Los Angeles, Orange County, San Diego, New York City, Chicago, Boston, Seattle, Washington, D.C., Dallas, Philadelphia, Aspen, The Hamptons, Miami, Philadelphia, Westchester, Greenwich, Naples, Santa Barbara and Marin.
Paragon currently sits at #89 on the REAL Trends 500 by sales volume. Compass broke the top 10 by sales volume and top 50 by transaction sides. Sources: Real Trends,Inman